Mutual Fund News : Mirae Asset Mutual Fund Reduces Limit on Fresh SIP Inflows in Mirae Asset Emerging Bluechip Fund

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Mirae Asset Mutual Fund has announced reduction in investment limit for Systematic Investment Plan (SIP) transaction in its flagship scheme Mirae Asset Emerging Bluechip Fund.

The new limit is applicable with effect from November 6, 2020, after the cut-off time of 3 pm.

The Monthly SIP limit for new transactions in Mirae Asset Emerging Bluechip Fund has been reduced from Rs 25,000/- to Rs 2,500/- at PAN level for each investor. Further, fresh SIP in the scheme will not be available through quarterly mode.

All existing transactions in the scheme remains unaffected and will continue as usual.

The fund house has taken this decision considering significant monthly inflows it was receiving under the scheme. In order to consolidate inflows in a further graded manner, the fund house has decided to keep investments open through SIP facility within the new investment limit.

The fund house has also decided to discontinue all inflows through Systematic Transfer Plan (STP), Variable Transfer Plan (VTP) and Trigger Investment Plan (TRIP) modes going forward.

However, the existing registrations through all or any of the systematic route before the effective date shall continue as per the terms of Scheme Information Document at the time of such registrations.

Notably, Mirae Asset Emerging Bluechip Fund had in October 2016 stopped accepting lump-sum investments into the scheme when its AUM crossed Rs 3,000 crore, and had capped monthly SIPs at Rs 25,000/- at PAN level for each investor.

Incepted in July 2010, Mirae Asset Emerging Bluechip Fund is one of the best-performing schemes in the Large and Mid Cap funds category, and is a prominent choice among investors. The funds AUM has grown significantly over the years and is now at around Rs 11,500 crores.

Large and Mid Cap Funds are suitable for aggressive investors having higher risk appetite.

Investors should consider their risk appetite while selecting funds in the Large and Mid Cap Funds category.